Moving Past the Pandemic: Working together with insureds and defense counsel to understand claim trends and manage plaintiffs’ tactics
Larry Griffin, Claims Team Leader - Professions, Beazley Social inflation hit hard in 2018 and 2019. As we continue to sort through its effects on the insurance industry, it really drove home the need for sustainable rates, but also new strategies to manage the emerging threats in the claims environment. While there were dips in certain types of claims activity during the pandemic (including the suspension of most US jury trials), litigation activity is now rebounding. Plaintiffs’ lawyers are advertising heavily again. We expect to see more trials this year and next. There may also be a backlog of potential [...]